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How to complete your bank’s new form: tax residency self certification under CRS and FATCA

The 'tax residency self certification' questionnaires were introduced from 2016 in order for banks, investment advisors or other financial institutions to acquire sufficient 'due diligence' data that complies with their legal obligations. Charities who are moving their bank account or opening a new one will particularly benefit from this briefing paper since the same questions and certification requirements in these questionnaires will appear in account opening forms.

The paper aims to support churches, in particular, and charities in general to feel confident in completing these forms without reference to their bank or other financial entity, or for the need to refer to a lawyer or other professional advisor. It has been written by Stewardship after extensive engagement with relevant officials from HMRC’s International Exchange of Information Team.

Topics included:

  • The need for the questionnaires
  • Which institutions are likely to send a questionnaire to your charity?
  • Background to the forms
  • Types of form
  • Entity version of the CRS form
  • FATCA form